US corporate results round up

Hershey reported a 5.8 per cent rise in quarterly net sales yesterday as demand for chocolates ahead of Halloween was stronger than the company had expected. However, the maker of Hershey Kisses and Reese’s Peanut Butter Cups said net income fell to $223.7m (£140m) in the third quarter ended 28 September, from $232.9m a year earlier.

Goodyear Tire & Rubber posted a three per cent drop in quarterly profit, due to lower vehicle production in Latin America, particularly in Brazil. Sales in the company’s Latin American unit, which contributes about 10 per cent to Goodyear’s total revenue, fell to $451m (£281.5m) from $527m. Revenue fell 6.8 per cent to $4.66bn. Net income in the quarter ended 30 September fell to $161m compared with $166m a year earlier.

Ralph Lauren warned yesterday that full-year sales would miss its earlier targets as foreign exchange headwinds hit results abroad. For the second quarter ended 27 September, it posted a profit of $201m (£125.5m) compared with $205m in the year-earlier period. Revenue grew four per cent to $1.99bn from $1.92bn a year earlier.

Cosmetics giant Revlon yesterday said third-quarter net income climbed to $14.6m (£9.1m) from last year’s $9.5m. Earnings per share grew to $0.28 from $0.18. Net sales climbed to $472.3m from $333.1m in the previous year. Consumer segment net sales edged down 0.9 per cent to $348.2m, compared with pro forma net sales of $351.3m in the third quarter of 2013.

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